Marketing Management : A Company

1444 Words6 Pages
MARKETING MANAGEMENT – ASSIGNMENT 1 Introduction Prada operates throughout the world and it’s headquarter is in Milan, Italy. In 1913, Mario Prada founded the company. Currently, this company is operating with over 250 outlets throughout the world with Prada Mario and his brother started business with a leather goods shop in 1913 in Milan, Italy. The shop initially sold leather products only. Mario Prada was against the role of women in business; hence, the female members of the family were not entered in the company. Mario’s son showed no interest in his father’s business, so his daughter, Luisa Prada took charge of the company. She served the company for almost twenty years. In 1970, Luisa’s daughter joined and she took over for her…show more content…
SWOT Analysis (Prada): STRENGTHS: • Loyal audience • Multi brands stores all over the world • Successful alliances with LG and Toyota • Brand well-know, recognizable advertising company • Unique heritage under Miuccia Prada WEAKNESS: • Corporate debt (difficult for funding) • 57% of sales – leather goods • Weak e-commerce participation • Unfriendly policy to environment • Emerging markets of the world has limited brand awareness • Masses cannot afford the products of this company. OPPORTUNITIES: • Global markets growth – Asia especially China • Outsourcing production • Product alliances with new partners • Franchises • Digital market • Capture the younger generation consumers THREATS: • Transparency of internet lead to price consistency • Falsifications • Existing competitors and rising fashionable catwalk copycat • European crisis • Government’s regulation • Lose of creativity Strengths Strength of Prada is their brand name. Due to this reason, it enables Prada to charge the price higher customers have higher demand and place higher value in Prada. Many people also prefer to choose Prada as their preferred brand even though there are many other brands in the market because many customers are loyal to Prada. Once can make Prada to stand out is its reputation, durability, scalability, and reliability. Besides, due to its uniqueness, other brands are hard to compete with Prada because customers cannot
Open Document